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Bevans solicitors with offices in Bristol & London have a good reputation on advising on property transactions and mortgage products both in the UK and in France.
Check below for more details or submit the attached form for assistance. Alternatively visit Bevans (website www.bevans.co.uk) and ask for the solicitor William Power.
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There are a huge variety of UK mortgage products on the market. Some involve straightforward repayment others allow only interest to be paid during the term. Some products cap or fix the interest rate for an initial period whilst others provide a cashback or a flexible arrangement. You need to disclose your current financial priorities so that the right product can be obtained for you.
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There are some very helpful lenders within the french property market including Abbey National (website www.abbey-national.fr) and Barclays (website www.barclays.fr). Bevans can assess your financial circumstances and advise you on the procedures to adopt and who to apply to. You should note that there are various restrictions on borrowing in France such as against fees and taxes and normally a thorough check is made by french lending institutions on the affordability of the loan by any applicant. Proof of income and expenditure will be required (evidenced by bank statements). The maximum term of a french mortgage is 20 years or up to the age of 70 whichever is the sooner. You will also require french life assurance as policies in other countries are not recognised.
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Many older homeowners wish to unlock the equity in their homes and buy a place in the sun. Plans vary from a “Home reversion” plan to where the owner raises cash in exchange for part or total transfer of the property to a “Roll up” mortgage where cash is released on the security of the property with interest on the original loan added on a compound basis. Schemes need to be checked carefully and it is recommended that a “Safe Home Income Plan” is used.
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